Monthly Archives: September 2017

Nigerian Breweries – Financial Market Forum Wrap-Up

Nigerian Breweries Plc, the nation’s largest brewer held its ‘2017 Financial Market Forum’ on 14th September 2017 at the company’s Iganmu-Lagos facility, where the new CEO Johan Doyer and Finance Director, Mark Rutten held a briefing of the company’s business and gave analysts a tour of the Iganmu plant.

The company posted a 15% revenue growth in the first-half of 2017, driven partly by earlier price increases. Beer volumes in the period declined mid-single digit. The brewer said it has implemented further marginal price increases in the N220 to N230 price range for select brands at the start of the third quarter of 2017 with the aim boosting margins amidst local input cost pressures.

AB InBev to increase equity stake in Nigerian operation post-merger

Anheuser-Busch InBev, the Belgian brewer which controls three independently operated breweries in Nigeria will increase its majority equity stake in International Breweries Plc (“IBPlc”) to 75.1% following the ongoing merger of its Nigerian operations.

AB InBev announced in early June that the Board of Directors of its three indirect Nigerian subsidiaries – IBPlc, Intafact Beverages Limited and Pabod Breweries Limited had agreed to explore a merger of their operations subject to regulatory and shareholder approvals.

The firm followed up in August by announcing it had secured the needed regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock exchange (“NSE”) to merge its operations in Nigeria.

Nigerian Breweries unveils newly built block of classrooms in Uyo

Nigerian Breweries Plc has commissioned a newly built block of classrooms, library and toilet facilities at the Special Education Center for Exceptional Children in Uyo, Akwa Ibom State in honour of Imoh Eno-Essien, the 2016 Maltina Teacher of the Year.

The construction of the facilities in the school where Mr. Essien teaches was part of the prize for emerging as the 2016 Maltina Teacher of the Year. Essien, who beat nine other finalists to the coveted prize last year, also received one million Naira cash prize, an oversea training, plus another one million Naira to be paid to him annually for five years.

NBC receives Nigeria Safety Awards for Excellence

Nigerian Bottling Company (NBC), the bottler of Coca-Cola products in Nigeria has received the prestigious Nigeria Safety Awards for Excellence in recognition of the company’s continuous compliance to standards in occupational health and safety.

The award presentation ceremony took place at the Oriental Hotel, Victoria Island, Lagos, amidst selected and credible national health and safety regulatory governmental organisations, professional bodies and stakeholders in matters relating to health and safety of employees in the workplace.

Zimbabwe mulls restricting alcohol sales to curb abuse

The Government of Zimbabwe is considering restricting the sale of alcohol to certain days, hours and to pregnant women.

The Sunday Mail, a Zimbabwe newspaper reported that the policy proposes to bar the sale of alcohol during the week, regulate the number of hours to sell the products and provide guidelines on the consumption of alcohol during special events like parties and weddings on the basis of the venue in which they are held.

Mexico’s FEMSA to sell stake in Heineken

Mexico’s FEMSA announced on Monday it would sell 5% of a 20% stake it holds in Dutch brewer Heineken NV. The stake is said to be worth about €2.5bn ($3bn).

Heineken’s relationship with FEMSA began in 2010 when the Dutch brewer acquired the beer business of FEMSA which gave the Mexican firm a 20% stake in Heineken.

L’Arche Green NV, the company through which the Heineken family controls Heineken Holding NV, said it would acquire €200m of the €2.5bn in shares FEMSA was putting up for sale.

Agric Minister commends FC WAMCO as biggest investor in local milk production in Nigeria

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has donated a portable motorized milking machine to FrieslandCampina WAMCO, while lauding the company as the biggest investor in Nigeria’s dairy sector.

The machine has a capacity to milk 50 cows a day. Chief Ogbeh made the symbolic donation while declaring open the National Livestock Conference organized by the Federal Ministry of Agriculture and Rural Development (FMARD) in collaboration with the Food and Agriculture Organization (FAO) taking place at the International Conference Centre, Abuja.

International Breweries to change its financial Year-end to December

International Breweries Plc (“IBPlc”) announced on Wednesday that it would be changing its financial year-end from 31 March to 31 December of every year.

In a statement released to the Nigerian Stock Exchange, the firm said that the first application would be for a nine months period ending 31 December, 2017.

Guinness Nigeria Makes Four New Executive-Level Appointments

Guinness Nigeria Plc has announced the appointment of four directors, as the foremost brewer re-energizes to optimize performance and execute its strategic growth plans. The appointments have taken effect.

The appointees are Bola Olajomi-Otubu, Human Resources Director; Colman Hanna, Supply Chain Director; Adenike Adebola, Marketing and Innovation Director (Guinness and Spirits) and Jody Samuels-Ike, Marketing and Innovation Director (Innovation, Lager, Consumer Connections and APNADS).

Guinness Nigeria appoints Mark Sandys to its Board as Non-Executive Director

Guinness Nigeria Plc, on Monday announced the appointment of Mark Sandys to its Board as a Non-Executive Director effective 30th August 2017.

Sandys, a long-serving executive of Diageo Plc with over 20 years’ experience has an MA degree in English and French from Balliol College, Oxford University in 1996.

In the over 19 years he has been with Diageo, he has served as a Senior Marketing Executive in different capacities including as Global Marketing Strategy & Innovation Director Baileys, Marketing & Innovation Director, Diageo Russia & Eastern Europe (based in Moscow), Category Director, Whiskey & Reserve, Asia Pacific.